Plant-Based Protein Evolution
- Vikas Kumar
- January 28, 2023
- BLOG, CONSUMER GOODS
- Plant-Based Protein Evolution
- 0 Comments
Markets for Plant-based proteins and plant-based protein foods have gained popularity as a result of growing customer preference for plant-based cuisine. People are spending a lot of money on nutrient-dense foods made from plants.
Plant-based protein Market, Evolution and Forecasting
A variety of opportunities will arise for the market for plant-based proteins as a result of rising productivity in the food and beverage industry. The global market for plant-based proteins is divided into soy, wheat, pea, potato, rice, canola, corn, and others based on the kind of product. The soy protein category is thought to account for the greatest portion of the worldwide plant-based protein market among them.
The convenience food sector is anticipated to increase at the fastest rate during the projection period, according to application.
Split by Region, 2022
Due to the rising demand for plant protein in East Asia, particularly in China, South Korea, and Japan, the market for plant-based proteins is anticipated to expand rapidly during the forecast period.
Compared to other regions, European consumers favor a diet heavy in protein. In the coming years, the market for plant-based proteins in Europe will be strongly impacted by growth in the vegan and plant-based food industries in European nations like the UK, France, and Germany.
The typical diet of a consumer in this area has more protein than is advised for sustaining optimal health. This has increased consumer demand for products with high protein content and plant-based proteins.
|Plant-Based Protein Market Size Value in 2022||USD 11.3 billion|
|Plant-Based Protein Market Forecast Value in 2032||USD 22.5 billion|
|Plant-Based Protein Market Global Growth Rate (2022 to 2032)||7.2%|
Intolerant of animal protein, consumers are turning to plant protein
According to a survey by the National Institute of Allergy and Infectious Diseases, animal protein sources like eggs, milk, fish, and red meat are to blame for more than half of all food allergies. In Europe alone, 1-4 percent of individuals have allergies to meat, while in the US, 10 million people have allergies to animal products. The majority of consumers of meat, seafood, and eggs are moving toward vegan protein sources due to allergies, which is eventually pushing the demand for plant proteins. Due to its many advantages and other useful qualities, plant-based protein is frequently employed in a variety of nutritional products. Manufacturers will have a better chance to capitalize on potential growth in the plant-based protein market as demand for goods containing plant-based protein is anticipated to rise.
As people in European countries are turning more into plant-based Protein or Plant based Protein food this industry is evolving and as more and more people are getting aware about its advantages and other useful qualities along with aggressive social media marketing are boosting the demand for this industry’s product.
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